Tag Archives: Credit Suisse

A new IT staffer at Credit Suisse

Credit Suisse has engaged Amelia as part of its IT support team to help the bank’s human employees with their day-to-day technology problems. Amelia is an AI-powered virtual agent, hired from AI specialist form IPsoft and put together by a team of data scientists, neuro-linguistic programmers, neuroscientists, linguists, application builders, business-process analysts. The bank said […]

Credit Suisse cuts management level

Credit Suisse is expected to do away with a layer of management as part of its staff reduction in order to cut costs. The bank is said to have cut the number of supervisors for every rank-and-file employee and aims for a ratio of one executive for every seven employees. Previously the bank had employed […]

MAS fines Credit Suisse, UOB

The Monetary Authority of Singapore (MAS) has fined Credit Suisse and United Overseas Bank (UOB) for breaches relating to the scandal-hit Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB). MAS said it has imposed a S$700,000 fine on Credit Suisse and a S$900,000 penalty on UOB. The two banks were found to have breached several […]

Credit Suisse launches wealth management platform in Thailand

Credit Suisse rolled out a digital wealth management platform for the domestic clients in Thailand on the occasion of the 5th anniversary of the launch of the service in the country. This is the third location in Asia Pacific where the bank is launching the digital platform. This places Credit Suisse at the forefront of […]

Credit Suisse pays $400 mn to settle US dispute

Credit Suisse has paid $400 million to settle a U.S. regulator’s claims that the bank’s improper sales of mortgage-backed securities contributed to the collapse of three corporate credit unions. The agreement with the National Credit Union Administration resolves allegations in a 2012 lawsuit filed by the agency over the bank’s sales to corporate credit unions. […]

Credit Suisse to close Russia private banking biz

Credit Suisse is planning to shut down its private banking unit in Russia and redirect client accounts to Switzerland. While the bank will continue to operate in the country, its range of private services for wealthy clients will be limited to investment advice. Customers who want to continue private banking will have to move their […]

Credit Suisse combines fixed income, equities units

Credit Suisse is merging its fixed income and equities divisions in Asia Pacific as part of the bank’s plan to overhaul its global markets businesses. The changes come as Credit Suisse CEO Tidjane Thiam emphasizes on wealth management, cutting back in investment banking after a slump in revenues to match its peers on capital. The […]

Credit Suisse private banking app

Credit Suisse has come out with a new private banking app for customers with accounts in Hong Kong. The bank’s initial digital private banking platform was first rolled out in Singapore in March 2015. More than 12 months of client usage analysis and usability testing led to the launch of an enhanced version of the […]

Credit Suisse closing Panama private banking ops

Credit Suisse has decided to close its private banking operations in Panama. A spokesperson from the Credit Suisse said the bank will close the advisory office with around 20 employees. The spokesperson said the closure had been planned for a long time and had nothing to do with the Panama Papers scandal. The closure of […]

Credit Suisse is cutting 130 jobs in London

Credit Suisse is in the process of cutting as many as 130 jobs in its global markets business in London. Of the 130, around 80 are in fixed income, with the other 50 in equities. Credit Suisse has announced it would accelerate cuts to the investment bank after reporting weak results. The bank has also […]